Religare Enterprises Limited has informed the Exchange about General Updates
RELIGARE · price
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Religare Enterprises' material subsidiary, Care Health Insurance Limited (CHIL), received a Rectification Order dated April 28, 2026, from the Income Tax Department under Section 154 of the Income-tax Act, 1961. The order corrected a technical error in the original tax computation for Assessment Year 2022-23. As a result, the net tax liability has been reduced by half, from Rs. 173.32 Crores to Rs. 86.66 Crores — a relief of around Rs. 86.66 Crores. The rectification came in response to an application filed by CHIL itself. Importantly, the original appeal against the assessment order for AY 2022-23 is still pending with the appropriate authority. The tax liability, if payable, rests with CHIL, and no penalty or restriction has been imposed.
This is a positive development for Religare shareholders, as CHIL's financials are consolidated with the parent and a Rs. 86.66 Crore reduction in tax demand improves the subsidiary's financial position, though the underlying appeal is still unresolved.